CFTC Votes To Consider New Position Limits On Derivatives

Law360, Washington (November 5, 2013, 2:21 PM EST) -- The U.S. Commodity Futures Trading Commission on Tuesday voted to propose new rules that would set position limits on derivatives, one year after a Washington, D.C., federal judge vacated the agency's prior rulemaking.

In a 3-1 vote, the CFTC approved the proposal of limits on speculative positions in 28 physical commodity futures, including metals and agriculture, as well as swaps that are "economically equivalent" to those contracts. The agency said the new rules are mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act of...
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